29th May 2019 15:27
Yew Grove REIT plc
(the "Company" or "Yew Grove ")
Lease surrender
Yew Grove, which owns a diversified portfolio of Irish commercial property assets, announces that it has agreed terms on a surrender of a lease at its property located in Cork Airport Business Park. The agreement will break the existing lease that had an annual rent roll of €0.63 million and lease end in five years in return for a payment of €3.0 million in respect of dilapidations and rent foregone.
The Board is confident in the medium term re-letting prospects for the building that was refurbished in 2015 to a high standard and includes a 163-space car park.
Enquiries:
Yew Grove REIT plc | Tel: 353 (1) 480 3960 | ||||
Jonathan Laredo, Chief Executive Officer | |||||
Michael Gibbons, Chief Investment Officer | |||||
Charles Peach, Chief Financial Officer | |||||
Investec Bank plc | |||||
NOMAD & Joint Broker: David Anderson, Darren Vickers | Tel: +44 (0) 20 7597 5970 | ||||
ESM Advisor & Joint Broker: Tommy Conway, Eoin Kennedy
| Tel: +353 (1) 421 0000
| ||||
Goodbody Stockbrokers | |||||
Joint Broker: David Kearney, Joe Gill | Tel +353 (1) 667 0400 | ||||
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IFC Advisory Financial PR Tim Metcalfe, Graham Herring, Heather Armstrong | Tel +44 203 934 6634 | ||||
Notes to editors:
Yew Grove REIT is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property, with a particular focus on well-tenanted commercial real estate assets comprising office and industrial assets let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.
Related Shares:
YEW.L